Commodities
Gold retracts recent gains
IN the four trading days of last week gold retraced its gains and moved down as rapidly as it climbed up in the previous week. The 3.9 per cent decline from May 25 close of $276.25 per ounce was attributed to long liquidation and option related selling. Official Friday closing price was $265.40/oz London PM fix. Silver, too, suffered by association.

Gold prices may remain subdued
At one time, ``...worth its weight in gold'' was a common idiom. Under the present circumstances, this does not seem to hold much water.

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